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Do you think the United States should do away with government-provided student loans and invest the money in something more substantial, like a job creation program?
They Should:
Student loans, even federal loans as I've found out, are not really the best option for a poor working college student. They charge close to seven percent interest and can be a small nightmare to pay back if your chosen field isn't paying enough to get a return on your investment. Plus, even well-meaning students can abuse their student loans accidentally via making purchases that are not approved by financial aid but are still needed, in some way or another, to successfully complete his or her program. For instance, financial aid will not cover trips to study abroad, even though a study abroad experience is recommended for foreign language majors. Financial aid will also not cover car repairs, even though some students rely on their cars to get to coops, internships, and classes and do not have other options. Don't even get me started on housing. The prices have rose exponentially. Sorry, but the way I see it there are too many ways for even a well-meaning student to abuse the system. There are no budget standards to follow; the student doesn't have to prove that is being used toward fulfillment of academic requirements, and there are loop holes that make so-called "unreasonable" purchases seem justifiable. Why did the student charge ten boxes of pizza to his or her financial aid account last Saturday night? The student was having a cramming party, and everyone got hungry.
Alternative:
Instead of allowing all of this free-for-all spending or putting tighter regulation on where the money goes and creating more problems for students who legitimately need government assistance to attend college, the government should step out of the student loan business and get back to providing grants, ready-to-work programs, and job creation programs. A stronger economy for all would mean more money for students and every working American.
They Should Not:
Student loans are a life saver for poor college students. Without loans to help ease the burden, many students would not even be able to afford college. There is a solution to student loan abuse; don't give the kids access to more money than they need, period, and, by all means, don't actually give the kid the money. Instead, provide vouchers for the proven amount that the student needs. For instance, the student may need a laptop computer in order to productively attend class. The student loan disbursement should provide a voucher for the student to purchase a reasonably priced laptop. If the student has special circumstances and needs housing, financial aid and the college should work with the student to provide decent on-campus or off-campus housing with a roommate to off-set costs. Financial aid could then cover only the required expenses. If the student needs food, financial aid could determine what items may be necessary for the student, and the student could receive a voucher to buy only those items. Colleges could also provide reduced-price meal plans. Students should be required to keep a list of all of their expenses and be taught budgeting and ways to off-set costs.
Alternative:
Poor students who didn't get a scholarship should be steered toward training for an in-demand trade that meets their skillset, if possible. Financial need assessment should take into account what the student is doing to better himself or herself.
I'll agree to this. Student loans should be gone completely. I know for me, it was the choice of either going with student loans or never going to college. But knowing what I know now, I would have saved up and gone to a university outside of the United States.
I'll agree to this. Student loans should be gone completely. I know for me, it was the choice of either going with student loans or never going to college. But knowing what I know now, I would have saved up and gone to a university outside of the United States.
Since student loans allow colleges to jack up tuition year after year, the option of saving up and paying in cash is almost impractical for most. Thank your government!
Student loan maximums should be capped at varying amounts based on median national salary levels for the chosen major, but there definitely should still be government backed, non dischargeable student loans.
Great idea!!! Insure that only the wealthy and the very bright can go to college and give all that extra money to corporations to off-shore more jobs or build more Walmarts, Bass Pros, and Burger Kings ... and then complain about welfare and people not willing to work for minimum wage at all those great new jobs.
Since student loans allow colleges to jack up tuition year after year, the option of saving up and paying in cash is almost impractical for most. Thank your government!
That is correct. Once the government gets involved, the sky is the limit, since costs are now decoupled from the market.
Education is always a touchy subject, but people should understand that a) it's only relatively recently that college became "the norm"; b) the reason college is now "the norm" is because high school education is essentially worthless; c) college is largely unnecessary for many people -- for proof, look at how many people are working in fields that are completely unrelated to their majors; and d) most kids waste their time in college anyways and just treat it as a four- to six-year period of partying and fun with a few tests in between.
I say that because people argue that without the government, nobody could afford college. First of all, false. If nobody could afford college, then guess what? They'd all close. And they're not going to do that. They'd just adjust their prices down immediately. Oh, plus they'd all stop building multi-million dollar new additions to their campuses every year. Second of all, even if you can't afford college, the point is that a lot of people don't need to be going to college, if we're being honest. If you want to and can afford it, great. If you can't, oh well. That's life.
Uh - goodness no! An investment in a student is an investment in our country's future. Why should the rich and famous be the only ones who can afford college? Whoever said they have the most brains?
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